Regulatory Alerts2023-07-31
FMI Standard 22: Communication Procedures and Standards
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 22 to regulate communication protocols for designated financial market infrastructures. The standard mandates that operators of pure payment systems, securities settlement systems, central securities depositories, and central counterparties must implement relevant internationally accepted communication procedures. This requirement became effective on 1 March 2024 under the Financial Market Infrastructures Act 2021.
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